Citigroup Inc. Announces the Reference Yields and Total Consideration for Fixed Spread Offers

  Citigroup Inc. Announces the Reference Yields and Total Consideration for
  Fixed Spread Offers

Business Wire

NEW YORK -- December 11, 2012

Citigroup Inc. (“Citigroup”) today announced the applicable Reference Yield
and Total Consideration in the previously announced cash tender offers with
respect to each series of Notes subject to the Fixed Spread Offers listed in
the table below.

Notes tendered pursuant to these Offers reflect Citigroup’s continued robust
liquidity position and are consistent with its recent liability management
initiatives. Year-to-date, and excluding the Offers, Citigroup has decreased
its outstanding long-term debt by approximately $13.9 billion through
liability management initiatives, including the previously announced
redemptions of trust preferred securities. Coupled with the ongoing natural
maturing of long-term debt that requires no refinancing, these initiatives
result in lower borrowing costs and reduce the overall level of Citigroup’s
long-term debt outstanding. Citigroup will continue to consider opportunities
to repurchase its long-term as well as short-term debt based on several
factors, including without limitation the economic value, potential impact on
Citigroup’s net interest margin and borrowing costs and the overall remaining
tenor of its debt portfolio.

The Fixed Spread Offers are being made pursuant to the offer to purchase dated
November 21, 2012 (the “Offer to Purchase,” as may be amended or supplemented
from time to time), and the related letter of transmittal (the “Letter of
Transmittal,” as may be amended or supplemented from time to time) which set
forth in more detail the terms and conditions of the Fixed Spread Offers.
Capitalized terms used but not otherwise defined in this announcement shall
have the meaning given to them in the Offer to Purchase.

The Reference Yield and Total Consideration for each series of Notes subject
to the Fixed Spread Offers were determined at or around 2:00 p.m., New York
City time, on December 10, 2012 in accordance with the terms set forth in the
Offer to Purchase by reference to the relevant Fixed Spread and the relevant
Reference U.S. Treasury Security as follows:

Fixed Spread Offers
                            Maximum        Reference    Bloomberg               Fixed     Early
Title of   CUSIP / ISIN  Series        U.S.        Reference  Reference  Spread   Tender       Tender Offer       Total
Security                    Tender         Treasury     page        Yield       (basis    Premium^(1)   Consideration^(1)   Consideration^(1)
                            Cap            Security                             points)
6.500%                                     0.250%
Senior       172967EU1 /    $125,000,000   Treasury     FIT1        0.240%      35        $30           $1,007.95           $1,037.95
Notes        US172967EU16                  due
due 2013                                   10/31/2014
6.000%                                     0.250%
Senior       172967FE6 /    $100,000,000   Treasury     FIT1        0.240%      45        $30           $1,020.78           $1,050.78
Notes        US172967FE64                  due
due 2013                                   10/31/2014
5.125%                                     0.250%
Senior       172967CK5 /    $225,000,000   Treasury     FIT1        0.240%      65        $30           $1,026.93           $1,056.93
Notes        US172967CK51                  due
due 2014                                   10/31/2014
5.500%                                     0.250%
Senior       172967EZ0 /    $25,000,000    Treasury     FIT1        0.240%      105       $30           $1,044.65           $1,074.65
Notes        US172967EZ03                  due
due 2014                                   10/31/2014
6.010%                                     0.375%
Senior       172967FA4 /    $25,000,000    Treasury     FIT1        0.316%      100       $30           $1,064.62           $1,094.62
Notes        US172967FA43                  due
due 2015                                   11/15/2015
4.750%                                     0.375%
Senior       172967FD8 /    $180,000,000   Treasury     FIT1        0.316%      105       $30           $1,049.44           $1,079.44
Notes        US172967FD81                  due
due 2015                                   11/15/2015
4.700%                                     0.375%
Senior       172967CY5 /    $10,000,000    Treasury     FIT1        0.316%      105       $30           $1,049.16           $1,079.16
Notes        US172967CY55                  due
due 2015                                   11/15/2015
4.587%                                     0.375%
Senior       172967FH9/     $25,000,000    Treasury     FIT1        0.316%      115       $30           $1,060.28           $1,090.28
Notes        US172967FH95                  due
due 2015                                   11/15/2015
5.300%                                     0.750%
Senior       172967DE8 /    $25,000,000    Treasury     FIT1        0.609%      90        $30           $1,081.78           $1,111.78
Notes        US172967DE82                  due
due 2016                                   10/31/2017

      Expressed in U.S. dollars per $1,000 principal amount of the Notes. We
(1)  will also pay accrued and unpaid interest to, but not including, the
      Settlement Date. The Early Tender Premium is included in the Total

The applicable Total Consideration, together with Accrued Interest, will be
paid to Holders of Notes that are validly tendered on or prior to previously
announced Early Tender Date of 11:59 p.m., New York City time, on December 21,
2012 and are accepted for purchase.

Citigroup has retained its affiliate Citigroup Global Markets Inc. to serve as
the dealer manager for the Offers. Global Bondholder Services Corporation has
been retained to serve as the depositary and information agent with respect to
the Notes.

For additional information regarding the terms of the Offers, please contact
Citigroup Global Markets Inc. at either (800) 558-3745 (toll free) or (212)
723-6106. Requests for documents and questions regarding the tender of Notes
may be directed to Global Bondholder Services Corporation at (866) 873-7700
(toll free) or (212) 430-3774 (collect).

The Offer to Purchase and related Letter of Transmittal were first distributed
to holders of Notes on November 21, 2012 and published on the website of the
Luxembourg Stock Exchange ( on November 22, 2012. Copies of the
Offer to Purchase and the Letter of Transmittal may also be obtained at no
charge from Global Bondholder Services Corporation.

None of Citigroup, its board of directors, the dealer manager, the depository
or the information agent makes any recommendation as to whether any holder of
the Notes should tender or refrain from tendering all or any portion of the
principal amount of the Notes.

This press release is neither an offer to purchase nor a solicitation to buy
any of these Notes nor is it a solicitation for acceptance of any of the
Offers. Citigroup is making the Offers only by, and pursuant to the terms of,
the Offer to Purchase and the related Letter of Transmittal. The Offers are
not being made to (nor will tenders of Notes be accepted from or on behalf of)
holders of Notes in any jurisdiction in which the making or acceptance thereof
would not be in compliance with the securities, blue sky or other laws of such
jurisdiction. This announcement must be read in conjunction with the Offer to
Purchase and, where applicable, the related Letter of Transmittal.

United Kingdom. The communication of the Offer to Purchase and any other
documents or materials relating to the Offers is not being made and such
documents and/or materials have not been approved by an authorized person for
the purposes of Section 21 of the Financial Services and Markets Act 2000.
Accordingly, such documents and/or materials are not being distributed to, and
must not be passed on to, the general public in the United Kingdom. The
communication of such documents and/or materials as a financial promotion is
only being made to those persons in the United Kingdom falling within the
definition of investment professionals (as defined in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
“Order”) or within Article 43(2) of the Order, or to other persons to whom it
may lawfully be communicated in accordance with the Order.

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management. Additional information may be found at

Certain statements in this release, including without limitation the
anticipated consummation and successful completion of the Offers (including
the satisfaction of the conditions described in the Offers to Purchase), the
possible further amendment, extension or abandonment of one or more of the
Offers, and Citigroup’s successful execution of its liability management
strategy, are “forward-looking statements” within the meaning of the rules and
regulations of the U.S. Securities and Exchange Commission. These statements
are based on management’s current expectations and are subject to uncertainty
and changes in circumstances. Actual results may differ materially from those
included in these statements due to a variety of factors, including without
limitation (i) the level of participation in the Offers, and (ii) the
precautionary statements included in this release and those contained in
Citigroup’s filings with the U.S. Securities and Exchange Commission,
including without limitation the “Risk Factors” section of Citigroup’s 2011
Annual Report on Form 10-K.


Citigroup Inc.
Mark Costiglio, 212-559-4114
Shannon Bell, 212-793-6206
Susan Kendall, 212-559-2718
Fixed Income Investors:
Jennifer Hendricks, 212-559-5091
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